‘a reality check list’
Land owners are not altogether surprised at the general price range their land might sell at. However, some hope or expect to hear a higher value that what an objective analysis concludes.
The market value of your land is not:
- What you have in it
- What you need out of it
- What other properties are listed at
- What the tax assessor says it is worth
- The highest list price suggested by one of the agents that you are interviewing.
The true market value of your land is what a Buyer is willing to pay:
- Based on today’s market
- Based on today’s financing
- Based on today’s competition
- Based on today’s economic conditions
- Based on location
- Based on how long it takes to sell
Land that will sell are those that:
- Are well priced and properly prepared at the start of marketing
- Are perceived as a good investment
- Are well and thoroughly marketed
- Have easy access
As a final reminder to the Seller:
- You can control the price you ask
- You can control the condition of the property
- You can control access to the property
- You cannot control market conditions, including Buyer financing, appraisals, et al
- You cannot control the motivation of your competition
- You cannot control value
I have been a realtor and real estate land specialist in Los Angeles for the past 15 years, creating opportunities for land-owners and Buyers by brokering vacant land throughout the Greater Los Angeles area. I can be contacted at sales (at) westsideland (dot) com and information can be obtained from www.westsideland.com
Advertisement
